Quantbot Technologies LP Invests $1.23 Million in Docusign Inc. $DOCU

Quantbot Technologies LP purchased a new stake in Docusign Inc. (NASDAQ:DOCU) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 17,021 shares of the company’s stock, valued at approximately $1,227,000.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new position in Docusign in the 2nd quarter valued at approximately $140,987,000. Third Point LLC purchased a new position in shares of Docusign in the second quarter valued at $48,681,000. Jupiter Asset Management Ltd. grew its position in shares of Docusign by 88.3% in the second quarter. Jupiter Asset Management Ltd. now owns 1,316,440 shares of the company’s stock valued at $102,538,000 after purchasing an additional 617,200 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Docusign by 132.8% during the 2nd quarter. Alliancebernstein L.P. now owns 868,531 shares of the company’s stock valued at $67,650,000 after purchasing an additional 495,380 shares during the period. Finally, Andra AP fonden purchased a new stake in Docusign during the 3rd quarter worth about $34,956,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Docusign Stock Performance

NASDAQ DOCU opened at $48.23 on Friday. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $94.67. The company has a fifty day moving average of $54.26 and a 200-day moving average of $66.00. The company has a market capitalization of $9.66 billion, a P/E ratio of 33.73, a P/E/G ratio of 2.01 and a beta of 1.03.

Insider Activity

In related news, insider James P. Shaughnessy sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $67.03, for a total value of $804,360.00. Following the completion of the sale, the insider owned 54,550 shares in the company, valued at $3,656,486.50. The trade was a 18.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 6,500 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $70.00, for a total transaction of $455,000.00. Following the transaction, the chief financial officer owned 111,713 shares in the company, valued at $7,819,910. The trade was a 5.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 77,476 shares of company stock valued at $5,302,678. 1.01% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DOCU shares. Robert W. Baird reduced their target price on Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Wells Fargo & Company cut their price objective on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, December 5th. Cantor Fitzgerald reaffirmed an “outperform” rating on shares of Docusign in a report on Wednesday, December 17th. HSBC set a $53.00 target price on shares of Docusign in a research note on Friday, February 13th. Finally, Royal Bank Of Canada reduced their price target on shares of Docusign from $95.00 to $70.00 and set a “sector perform” rating for the company in a research report on Monday, January 5th. Five research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $78.80.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.